About Ishwarshakti Holdings & Traders Limited
Data last updated:
Ishwarshakti Holdings & Traders Limited is a public limited company based in Mumbai, Maharashtra, India. It operates in the investment and credit NBFC segment of the financial services sector. It was incorporated on 07 September 1983 and has been in existence for over 43 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN L51100MH1983PLC030782. It is a listed company as per MCA records. Its shares are listed on BSE: 506161.
The company has an authorised share capital of ₹5 Cr and a paid-up capital of ₹4.44 Cr. It was formerly known as Ishwarshakti Holding & Traders Limited. It is led by directors including Geeta Seksaria (Managing Director) and Deepakkumar Bubna.
Its last annual general meeting (AGM) was held on 04 September 2025, and its latest financial statements are for the year ended 31 March 2026. The registered office is at Seksaria Chambers 139 Nagindas Master Rd 5th Floor, Mumbai, Maharashtra, India – 400001.
As per the latest standalone financials for FY 2025-26, the company reported a revenue of ₹66 Lakh, a decline of 59.8% compared to the previous year. For the same year it recorded a net loss of ₹32 Lakh (net margin -48.5%) and EBITDA of -₹34 Lakh (EBITDA margin -51.5%). The net worth stands at ₹38.99 Cr (up 1573.4% YoY). Total assets are valued at ₹38.99 Cr (up 971.2% YoY).
The company is associated with 1 brand: Ishwarshakti. Court records list 4 cases involving the company, including 4 filed by the company; 1 case is pending.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website ishwarshakti.com.
Company details
CIN history
Ishwarshakti Holdings & Traders has one previous CIN (Corporate Identification Number): U51100MH1983PLC030782. The current CIN is L51100MH1983PLC030782, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L51100MH1983PLC030782 | Current |
| U51100MH1983PLC030782 | Previous |
Contact details
Ishwarshakti Holdings & Traders Limited's registered office is in Mumbai, Maharashtra. Its website is ishwarshakti.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered AddressSeksaria Chambers 139 Nagindas Master Rd 5th Floor, Mumbai, Maharashtra, India – 400001
- IndustryFinancial Services, Investment & Credit NBFC, NBFC
To see the full contact details of Ishwarshakti Holdings & Traders Limited, buy the company report.
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
Brands
Ishwarshakti Holdings & Traders operates one associated brand: Ishwarshakti. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Offers comprehensive financial investment services to clients. | ishwarshakti.com |
Business activity
The main business activity of Ishwarshakti Holdings & Traders is financial and insurance service. In detail, this covers other financial activities.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| K | Financial and insurance Service | K8 | Other financial activities |
To see the full business activity and turnover split of Ishwarshakti Holdings & Traders Limited, buy the company report.
Financials of Ishwarshakti Holdings & Traders Limited
FY 2025-26 filings availableIshwarshakti Holdings & Traders Limited reported revenue of ₹66 Lakh (down 59.8% YoY) for FY 2025-26.
Financial Highlights
FY 2025-26 · StandaloneRevenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 0.66 | 1.64 | 2.03 | 1.21 | 2.82 | 1.52 | 0.68 |
| Revenue growth | -59.8% | -19.2% | +67.8% | -57.1% | +85.5% | +123.5% | - |
| EBITDA | (0.34) | (0.17) | 0.36 | (0.14) | 0.07 | 0.36 | (0.68) |
| EBITDA margin | -51.5% | -10.4% | +17.7% | -11.6% | +2.5% | +23.7% | -100.0% |
| Profit before tax | (0.34) | (0.17) | 0.37 | (0.14) | 0.08 | 0.37 | (0.68) |
| Net profit | (0.32) | (0.18) | 0.31 | (0.14) | 0.08 | 0.36 | (0.61) |
| Net profit margin | -48.5% | -11.0% | +15.3% | -11.6% | +2.8% | +23.7% | -89.7% |
| EPS (₹) | (2.17) | (1.19) | 2.11 | (0.85) | 0.55 | 2.50 | (4.18) |
| Balance sheet | |||||||
| Total assets | 38.99 | 3.64 | 2.44 | 2.19 | 17.62 | 13.49 | 10.71 |
| Net worth | 38.99 | 2.33 | 1.30 | 1.03 | 16.52 | 12.43 | 9.78 |
| Total debt | 0.00 | 1.31 | 1.14 | 1.16 | 1.10 | 1.06 | 0.93 |
| Cash & bank | 0.04 | 0.04 | 0.02 | 0.05 | 0.02 | 0.03 | 0.09 |
| Net working capital | 1.12 | 1.32 | 1.38 | 1.28 | 1.34 | 1.00 | 0.51 |
| Cash flow | |||||||
| Cash from operations | (0.16) | (0.17) | 0.09 | (0.04) | (0.27) | (0.19) | 0.00 |
| Cash from investing | (0.32) | (1.18) | (0.10) | 0.00 | 0.23 | 0.00 | 0.01 |
| Cash from financing | 0.49 | 1.37 | (0.02) | 0.06 | 0.04 | 0.13 | 0.05 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0.38 | 0.21 | 0.14 | 0.18 | 0.08 | 0.38 | 0.08 | 0.48 |
| Revenue growth (YoY) | +375.0% | -44.7% | +75.0% | -62.5% | -87.1% | - | - | - |
| Other income | 0.01 | (0.63) | 0.04 | 0.66 | 0.03 | 0.05 | 0.02 | 0.01 |
| Total expenses | 0.19 | 0.55 | 0.32 | 0.20 | (0.02) | 0.61 | 0.23 | 0.41 |
| EBITDA | 0.19 | (0.34) | (0.18) | (0.02) | 0.10 | (0.23) | (0.15) | 0.07 |
| EBITDA margin | +50.0% | -161.9% | -128.6% | -11.1% | +125.0% | -60.5% | -187.5% | +14.6% |
| Depreciation | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | 0.19 | (0.97) | (0.14) | 0.64 | 0.13 | (0.18) | (0.13) | 0.08 |
| Tax | 0.03 | (0.21) | 0.01 | 0.18 | 0.00 | 0.01 | (0.03) | 0.02 |
Financial Statements
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0.38 | 0.21 | 0.14 | 0.18 | 0.08 | 0.38 | 0.08 | 0.48 |
| Revenue growth (YoY) | +375.0% | -44.7% | +75.0% | -62.5% | -87.1% | - | - | - |
| Other income | 0.01 | (0.63) | 0.04 | 0.66 | 0.03 | 0.05 | 0.02 | 0.01 |
| Total expenses | 0.19 | 0.55 | 0.32 | 0.20 | (0.02) | 0.61 | 0.23 | 0.41 |
| EBITDA | 0.19 | (0.34) | (0.18) | (0.02) | 0.10 | (0.23) | (0.15) | 0.07 |
| EBITDA margin | +50.0% | -161.9% | -128.6% | -11.1% | +125.0% | -60.5% | -187.5% | +14.6% |
| Depreciation | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | 0.19 | (0.97) | (0.14) | 0.64 | 0.13 | (0.18) | (0.13) | 0.08 |
| Tax | 0.03 | (0.21) | 0.01 | 0.18 | 0.00 | 0.01 | (0.03) | 0.02 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 0.66 | 1.64 | 2.03 | 1.21 | 2.82 | 1.52 | 0.68 |
| Revenue growth | -59.8% | -19.2% | +67.8% | -57.1% | +85.5% | +123.5% | - |
| Other income | 0.00 | 0.00 | 0.01 | 0.00 | 0.01 | 0.01 | 0.00 |
| Total expenses | 1.00 | 1.81 | 1.67 | 1.35 | 2.75 | 1.16 | 1.36 |
| Employee cost | 0.10 | 0.09 | 0.09 | 0.09 | 0.07 | 0.08 | 0.10 |
| EBITDA | (0.34) | (0.17) | 0.36 | (0.14) | 0.07 | 0.36 | (0.68) |
| EBITDA margin | -51.5% | -10.4% | +17.7% | -11.6% | +2.5% | +23.7% | -100.0% |
| Depreciation | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | (0.34) | (0.17) | 0.37 | (0.14) | 0.08 | 0.37 | (0.68) |
| Tax | (0.02) | 0.01 | 0.06 | 0.00 | 0.00 | 0.01 | (0.07) |
| Net profit | (0.32) | (0.18) | 0.31 | (0.14) | 0.08 | 0.36 | (0.61) |
| Net profit margin | -48.5% | -11.0% | +15.3% | -11.6% | +2.8% | +23.7% | -89.7% |
| EPS (₹) | (2.17) | (1.19) | 2.11 | (0.85) | 0.55 | 2.50 | (4.18) |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 4.44 | 2.64 | 1.44 | 1.44 | 1.44 | 1.44 | 1.44 |
| Reserves & surplus | 34.55 | (0.31) | (0.14) | (0.41) | 15.08 | 10.99 | 8.34 |
| Shareholders' funds (net worth) | 38.99 | 2.33 | 1.30 | 1.03 | 16.52 | 12.43 | 9.78 |
| Secured loans | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Unsecured loans | 0.00 | 1.31 | 1.14 | 1.16 | 1.10 | 1.06 | 0.93 |
| Total debt | 0.00 | 1.31 | 1.14 | 1.16 | 1.10 | 1.06 | 0.93 |
| Total liabilities | 38.99 | 3.64 | 2.44 | 2.19 | 17.62 | 13.49 | 10.71 |
| Assets | |||||||
| Gross block | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net block | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Capital work in progress | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 42.94 | 2.15 | 0.88 | 0.74 | 18.94 | 14.11 | 11.30 |
| Inventories | 0.97 | 1.16 | 1.31 | 1.16 | 1.21 | 0.92 | 0.42 |
| Sundry debtors | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash & bank balances | 0.04 | 0.04 | 0.02 | 0.05 | 0.02 | 0.03 | 0.09 |
| Loans & advances | 0.12 | 0.13 | 0.10 | 0.11 | 0.14 | 0.09 | 0.03 |
| Total current assets | 1.13 | 1.33 | 1.43 | 1.32 | 1.37 | 1.04 | 0.54 |
| Total current liabilities | 0.01 | 0.01 | 0.05 | 0.04 | 0.03 | 0.04 | 0.03 |
| Net working capital | 1.12 | 1.32 | 1.38 | 1.28 | 1.34 | 1.00 | 0.51 |
| Total assets | 38.99 | 3.64 | 2.44 | 2.19 | 17.62 | 13.49 | 10.71 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 0.04 | 0.02 | 0.05 | 0.02 | 0.02 | 0.08 | 0.03 |
| Net cash from operating activities | (0.16) | (0.17) | 0.09 | (0.04) | (0.27) | (0.19) | 0.00 |
| Net cash from investing activities | (0.32) | (1.18) | (0.10) | 0.00 | 0.23 | 0.00 | 0.01 |
| Net cash from financing activities | 0.49 | 1.37 | (0.02) | 0.06 | 0.04 | 0.13 | 0.05 |
| Net change in cash | 0.00 | 0.02 | (0.03) | 0.02 | 0.00 | (0.06) | 0.05 |
| Closing cash | 0.04 | 0.04 | 0.02 | 0.05 | 0.02 | 0.03 | 0.09 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | -59.8% | -19.2% | +67.8% | -57.1% | +85.5% | +123.5% | - |
| EBITDA growth | -100.0% | -147.2% | +357.1% | -300.0% | -80.6% | +152.9% | - |
| PBT growth | -100.0% | - | +9998.0% | - | -78.4% | +9998.0% | -300.0% |
| Net income growth | -77.8% | -158.1% | +321.4% | -275.0% | -77.8% | +159.0% | - |
| Revenue CAGR (3Y) | -18.3% | -16.5% | +10.1% | +21.2% | +59.1% | +9.4% | -6.1% |
| EBITDA CAGR (3Y) | +34.4% | - | 0.0% | -41.0% | - | +81.7% | - |
| Profitability & leverage | |||||||
| Net income margin | -48.5% | -11.0% | +15.3% | -11.6% | +2.8% | +23.7% | -89.7% |
| Return on capital employed | 0.0% | 0.0% | +14.9% | 0.0% | +0.5% | +3.1% | -6.0% |
| Return on net worth | 0.0% | 0.0% | +23.6% | 0.0% | +0.6% | +3.2% | -5.9% |
| Debt / equity | 0.03 | 0.67 | 0.99 | 0.13 | 0.07 | 0.09 | 0.09 |
| Long-term debt / equity | 0.03 | 0.67 | 0.99 | 0.13 | 0.07 | 0.09 | 0.09 |
| Interest cover | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Inventory turnover | 0.62 | 1.33 | 1.65 | 1.02 | 2.66 | 2.28 | 1.20 |
| Debtors turnover | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| EPS (₹) | (2.17) | (1.19) | 2.11 | (0.85) | 0.55 | 2.50 | (4.18) |
| Dividend per share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 249.92 | 7.82 | 9.04 | 7.12 | 114.69 | 86.32 | 67.91 |
To see the full year-wise statements and ratios of Ishwarshakti Holdings & Traders Limited, buy the company report.
Board of directors of Ishwarshakti Holdings & Traders Limited
Ishwarshakti Holdings & Traders has 6 current directors and 4 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Geeta Seksaria Also directs: The Seksaria Biswan Sugar Factory Limiited | Managing Director | 08 Sep 2014 | 12 Years 1 Months | Current |
| Deepakkumar Bubna | Director | 24 Feb 2022 | 4 Years 8 Months | Current |
| Vijaykumar Mahabirprasad Jatia Also directs: Chiklate Mercantile LLP, Modern India Limited, Ignatius Trading Company Private Limited and 5 more | Director | 24 Feb 2022 | 4 Years 8 Months | Current |
| Kailashchandra Kesardeo Seksaria Also directs: Seksaria Farms Private Limited, Seksaria Confectionaries Private Limited, Bhavnagar Oil Mills Private Limited and 5 more | Director | 07 Sep 1983 | 43 Years 1 Months | Current |
| Vinay Kailashchandra Seksaria Also directs: Seksaria Confectionaries Private Limited, Bhavnagar Oil Mills Private Limited, Seksaria Industries Private Limited and 5 more | Director | 28 Mar 2007 | 19 Years 7 Months | Current |
| Radhika Vinay Seksaria | Additional Director | 29 May 2026 | 0 Years 4 Months | Current |
Peer comparison
Ishwarshakti Holdings & Traders Limited is compared with the 6 companies closest to it by revenue in the BFSI industry (NBFC Investment and Credit Companies, Small Non Deposit NBFC), with the same principal business activity (other financial activities), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Vivek Tracom Pvt Ltd | ₹2.05 Cr (FY 2025) | -4.0% | Kolkata, West Bengal, India | |||
| Kalpathi Investments Private Limited | ₹2.05 Cr (FY 2025) | 13.0% | Chennai, Tamil Nadu, India | |||
| Nalwa Investments Ltd | ₹2.05 Cr (FY 2025) | 9.0% | Hisar, Haryana, India | |||
| Kashind Financiers Limited | ₹2.04 Cr (FY 2024) | 232.0% | Kolkata, West Bengal, India | |||
| Xenix Servis Pvt Ltd | ₹2.04 Cr (FY 2025) | 386.0% | Kolkata, West Bengal, India | |||
| R K Finance Ltd | ₹2.03 Cr (FY 2025) | 10.0% | Kolkata, West Bengal, India | |||
| Ishwarshakti Holdings & Traders Limitedthis company | ₹66 Lakh (FY 2026) | -₹32 Lakh | -48.5% | -59.8% | Mumbai, Maharashtra, India |
To see the full peer comparison of Ishwarshakti Holdings & Traders Limited, buy the company report.
Auditor
Ishwarshakti Holdings & Traders Limited is audited by B. L. DASHARDA & ASSOCIATES for the financial year 2024.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| B. L. DASHARDA & ASSOCIATES | FY 2024 | 112615W |
Shareholding
Shareholding for the quarter ended Mar 2026: promoters hold 75.00%, foreign institutional investors hold 0.00%, domestic institutional investors hold 0.00% and retail and other public shareholders hold 25.00%.
| Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | |
|---|---|---|---|---|
| Promoters | 75.00% | 75.00% | 75.00% | 75.00% |
| Public | 25.00% | 25.00% | 25.00% | 25.00% |
Legal cases
Ishwarshakti Holdings & Traders Limited has 4 court cases on record: 4 filed by Ishwarshakti Holdings & Traders. 1 case is pending and 3 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 3 | 0 | 1 |
| NCLT | 1 | 0 | 0 |
Cases on record (4 of 4)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Silvassa, DNH at Silvasa | Commercial suit | Filed by the company against individuals | Pending |
| NCLT, Mumbai | Court case (C.P.(CAA)) | Filed by the company | Disposed |
| District court, Silvassa, DNH at Silvasa | Court case (Spl. C. S.) | Filed by the company against individuals | Disposed |
| District court, Silvassa, DNH at Silvasa | Court case (S.C.S.) | Filed by the company against individuals | Disposed |
To see the full case history of Ishwarshakti Holdings & Traders Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Ishwarshakti Holdings & Traders Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
No GST registration is on our record for Ishwarshakti Holdings & Traders Limited; the GSTIN and return-filing check is in the company report Buy the company report.
Recent activity
Ishwarshakti Holdings & Traders Limited has 9 board changes on record since 1983: 9 appointments. The latest: Radhika Vinay Seksaria was appointed as Additional Director on 29 May 2026.
Frequently asked questions
Ishwarshakti Holdings & Traders is an active public limited company based in Mumbai, Maharashtra, India. The company works in investment and credit nbfc, within the financial services industry. It was incorporated on 07 September 1983 (43+ years old) and is registered under CIN L51100MH1983PLC030782. Listed on BSE: 506161.
Ishwarshakti Holdings & Traders reported revenue of ₹66 Lakh for FY 2025-26 (down 59.8% YoY) based on standalone financials.
Ishwarshakti Holdings & Traders has 6 current directors:
- Geeta Seksaria - Managing Director
- Deepakkumar Bubna - Director
- Vijaykumar Mahabirprasad Jatia - Director
- Kailashchandra Kesardeo Seksaria - Director
- Vinay Kailashchandra Seksaria - Director
- Radhika Vinay Seksaria - Additional Director
The latest financial statements of Ishwarshakti Holdings & Traders on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 04 September 2025. Year-wise statements from 2015 are in the company report.
The CIN (Corporate Identification Number) of Ishwarshakti Holdings & Traders is L51100MH1983PLC030782. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes. Ishwarshakti Holdings & Traders is a listed company as per MCA records. Its shares are listed on BSE (code: 506161).
Ishwarshakti Holdings & Traders has 4 court cases on record: 4 filed by the company. 1 is pending. Most are in the district courts.
Ishwarshakti Holdings & Traders was incorporated on 07 September 1983, making it 43+ years old. It is registered with the Registrar of Companies, Mumbai.
The peers of Ishwarshakti Holdings & Traders by revenue are Vivek Tracom Pvt Ltd, Kalpathi Investments Private Limited, Nalwa Investments Ltd, Kashind Financiers Limited, Xenix Servis Pvt Ltd and 1 more, all in the BFSI industry (NBFC Investment and Credit Companies, Small Non Deposit NBFC), with the same principal business activity (other financial activities).
Radhika Vinay Seksaria was appointed as Additional Director on 29 May 2026. Chandni Lohar was appointed as Company Secretary on 02 May 2025. Yashasvi Vivek Seksaria was appointed as Director on 18 Aug 2022. Ishwarshakti Holdings & Traders has 9 board changes on record in total.
Ishwarshakti Holdings & Traders can be reached through the website ishwarshakti.com. Its registered office is in Mumbai, Maharashtra, India.